Türkiye’s economic agenda will focus on the inflation data on July 3 and the interest rate decision to be announced by the Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee (PPK) on July 23.
An intense data agenda awaits Türkiye in July.
Minister of Commerce Ömer Bolat is planned to announce foreign trade data for June at the meeting to be held in Istanbul on July 3. Thus, data for the January-June period will be clear. Stating that exports amounted to 22.5 billion dollars with a decrease of 9.3 percent in May, Bolat shared the information that daily average exports reached 1.3 billion dollars.
Turkish Statistical Institute (TUIK) will announce inflation data for June to the public on July 3. Thus, with the announcement of the 6-month inflation figures, the inflation difference that civil servants will receive will become clear. CPI increased by 1.71 percent on a monthly basis in May, D-PPI increased by 2.75 percent, and annual inflation was recorded as 32.61 percent in consumer prices and 28.93 percent in domestic producer prices.
TurkStat will announce the industrial production index for May on July 10. The index increased by 3.7 percent on a monthly basis and 6 percent on an annual basis in April.
CBRT will share May balance of payments statistics with the public on July 13. While the current account account had a deficit of 5 billion 695 million dollars in April, there was a surplus of 319 million dollars in the current account account excluding gold and energy in this period.
TurkStat will announce the service and construction production indices for May on July 16. On the same day, TURKSTAT will announce the producer price index of agricultural products for June.
The Ministry of Treasury and Finance will announce the budget implementation results for June on July 16. Türkiye’s central government budget revenues were 1 trillion 86.2 billion liras and expenses were 1 trillion 384.4 billion liras in May. There was a budget deficit of 298.2 billion liras in May and 1 trillion 57 billion liras in the January-May period.
TurkStat will announce the paid employment statistics for May, housing and workplace sales and motor vehicles statistics for June on July 17. Thus, data on residences, workplaces and motor vehicles sold in the first half of the year will be determined.
The institution will announce the foreign producer prices for June and the agricultural input price indices for May on July 20.
TOURISM DATA
TurkStat will announce household domestic tourism statistics for the first quarter of the year on July 22, and tourism statistics for the second quarter of the year on July 31. Türkiye’s tourism revenue increased by 4.2 percent in the first quarter of the year compared to the same period last year, reaching 9 billion 896 million 456 thousand dollars.
Consumer confidence index for July will be announced on the 23rd of the month. Consumer confidence index was 87.9 in June.
TurkStat will announce labor force statistics for June on July 30.
INTEREST DECISION WILL BE ANNOUNCED
The CBRT Monetary Policy Committee meeting will be held on July 23. Since the board is not planned to meet in August, the markets will have their eyes on the July interest rate decision that will come out of the MPC.
In its last meeting, the Board kept the one-week repo auction interest rate, which is the policy rate, constant at 37 percent.
In the statement made after the meeting, “The main trend of inflation, which increased in April with the effect of energy prices after the rise in the first months of the year, decreased slightly in May.” evaluation was made.
On the other hand, in the second half of the year, Turkey will host many international events such as the NATO Summit of Heads of State and Government, the 31st Conference of the Parties to the United Nations (UN) Framework Convention on Climate Change (COP31), the 13th summit of the Organization of Turkic States and the 77th International Astronautical Congress. These events are expected to create a busy agenda in Türkiye’s economic agenda.
